Daily News Egypt

MSMEDA offers EGP 1.19bn finance for 48,743 small, micro projects last 4 months - Daily News Egypt

Advertising Area

Advertising Area

MSMEDA offers EGP 1.19bn finance for 48,743 small, micro projects last 4 months

Funding size is good, given negative economic effects of coronavirus, says Gamea

The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has offered EGP 1.19bn worth finance for 48,743 small and micro projects in the period from January to April, Minister of Trade and Industry and Executive Director of MSMEDA Nevine Gamea said on Tuesday.

She described the funding size as good, given the negative economic effects that accompanied the spread of the coronavirus on the activities of micro and small enterprises, amid fears of many entrepreneurs from setting up small projects or expanding their existing projects.

Gamea added that the number of financed project was low but it was natural in light of the current crisis, however, hard times also created investment opportunities of which young people can take advantage.

She pointed out that there are many industrial, service, and commercial sectors that increased their operating rates and profits during the ongoing crisis, such as preventive and medical supplies, sterilization products, e-marketing , technology support services, and many other fields.

Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter